Faith Baptist Bible College Inc
- Assets
- $3.8m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 76
- Location
- Bessemer, AL
- Founding
- 03/1972
- Data as of
- 05/2022
- EIN
- 63-0521463
Organization Overview
Faith Baptist Bible College Inc, operating under the name Bessemer Academy, is located in Bessemer, AL. The organization was established in 1972. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Bessemer Academy employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bessemer Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Bessemer Academy generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $2.8m during the year ending 05/2022. While expenses have increased by 3.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATE CHILDREN IN A CHRISTIAN ENVIRONMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EDUCATE CHILDREN IN A CHRISTIAN ENVIRONMENT. THE SCHOOL HAS AN ENROLLMENT OF APPROXIMATELY 465 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brooke Nixon President | OfficerTrustee | 10 | $0 |
Debbie Harrison Vice Preside | OfficerTrustee | 7 | $0 |
Kerry Clark Treasurer | OfficerTrustee | 7 | $0 |
Joe Brister Secretary | OfficerTrustee | 7 | $0 |
Polly Bice Director | Trustee | 2 | $0 |
Mark Rhea Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $709,483 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,413 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $720,896 |
| Total Program Service Revenue | $3,207,408 |
| Investment income | $5,973 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,934,277 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,475,141 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,016 |
| Payroll taxes | $112,592 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,609 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $133,783 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,799 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,862 |
| Insurance | $67,737 |
| All other expenses | $170,785 |
| Total functional expenses | $2,806,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $955,491 |
| Savings and temporary cash investments | $1,098,946 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,150 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $82,813 |
| Net Land, buildings, and equipment | $1,548,501 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,620 |
| Total assets | $3,755,521 |
| Accounts payable and accrued expenses | $13,042 |
| Grants payable | $0 |
| Deferred revenue | $311,361 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $346,776 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $217,302 |
| Total liabilities | $888,481 |
| Net assets without donor restrictions | $2,867,040 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,755,521 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Faith Baptist Bible College Inc has recieved totaling $27,764.
| Awarding Organization | Amount |
|---|---|
Scholarships For Kids Inc Birmingham, AL PURPOSE: TO PROVIDE ACCESS TO QUALITY EDUCATION | $27,739 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $25 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lemoyne Owen College Memphis, TN | $53,577,456 | $23,441,931 |
Blue Mountain College Blue Mountain, MS | $37,926,447 | $21,477,479 |
Hodges University Inc Ft Myers, FL | $69,958,364 | $14,637,102 |
Compass Rose Foundation Inc Jacksonville, FL | $51,584,568 | $19,833,051 |
Brewton Parker College Inc Mount Vernon, GA | $26,983,767 | $18,922,646 |
Welch College Gallatin, TN | $41,634,056 | $11,542,139 |
Paine College Augusta, GA | $39,651,651 | $10,570,569 |
Judson College Marion, AL | $32,056,907 | $7,964,098 |
Clayton State University Foundation Inc Morrow, GA | $97,218,630 | $15,697,742 |
Beacon College Prep Inc Miami Beach, FL | $12,193,654 | $7,064,402 |
American Baptist Theological Seminary Nashville, TN | $11,177,466 | $7,876,217 |
Columbus State University Foundation Inc Columbus, GA | $135,224,676 | $13,332,092 |